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Primefin Account Types

Primefin Account Types

 

Overall Rating

4.7/5

Rated #– of 
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

LFSA

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

45+

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Primefin provides three different account types e.g., a Silver, Gold and Platinum Account. Each account type has its own set of conditions for commission, margin call, and leverage, and minimum deposits.

 

Finding a reputable list about Primefin account types local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth account types Review regarding this regulated Forex company, which will assist traders to make an informed decision when it comes to the various Forex trading accounts made available.

 

Primefin Overview

Primefin is a regulated broker that is headquartered in Labuan, Malaysia. Established in 1996, Primefin is an extremely popular broker that offers traders access to global markets.

The broker endeavors to offer their services all globally yet they still like to focus on Asia. As a result of this, Primefin had to ensure they had a prominent level of excellence to develop innovative services that could be used both locally and globally.

This helps to ensure that traders are offered fast trade execution and the best possible prices at optimum speeds. Primefin also offers assets from all market types which include shares, crypto, commodity, metals, currency pairs, indices, and more.

Primefin is continuously working to improve its trading solutions and services to adapt to evolving needs and objectives of traders.

 

Primefin Accounts

A trading account is one that is held by a trader with a company like Primefin, issued with the primary purpose of making use of the broker’s competitive trading conditions while participating in global financial markets.

Usually, the number and type of accounts that a trader can open with a broker company will differ according to the country in which the brokerage operates, the country of residence of the trader, and the regulatory authorities under whose authority it operates.

Accounts usually differ in the way spreads or commissions are applied, what minimum deposit is needed to open that type of account, and which services or advantages traders are provided with access to.

In the case of Muslim customers, special Islamic accounts, which are swap-free accounts, are offered that mirror the other account types, but which operate in accordance with Shariah law.

 

Primefin Account Types

Primefin offers their traders the option of three main account types, but they do not give their Muslim traders, who follow the Sharia Law, the option for an Islamic Account.

Traders will find that through these accounts, Primefin offers extremely competitive trading conditions along with large comprehensive solutions and services.

 

Account Opening with Primefin

The procedure for opening an account with Primefin entails just three simple steps. These are as follows:

  • Navigate to the Primefin website and click to open an account option. This will then redirect the trader to the online application requiring the trader’s name and phone number for the verification process.
  • Once the details of the trader are verified, they need to upload all the required documents related to their income status. It is possible to skip this step if the scanned documents are unavailable at that moment.
  • The last step is selecting the market or trade the trader wants to trade-in. Once the minimum deposit for that specific trade is paid, traders can start trading.

 

Primefin Account Features

The Primefin accounts provide traders with an array of features, including:

 

Silver Account

  • Hedging
  • Amount of FX leverage – 1:100
  • Dedicated account manager
  • Customized investment news
  • Available currencies: EUR/USD, GBP/USD USD/JPY, AUD/USD, USD/CHF, USD/CAD, NZD/USD, EUR/GBP, and more

 

Gold Account

  • Hedging
  • Amount of FX leverage – 1:100
  • Dedicated account manager
  • Customized investment news
  • Free VPS
  • Fifth decimal
  • Swap discount (up to 25%)
  • Available currencies: EUR/USD, GBP/USD USD/JPY, AUD/USD, USD/CHF, USD/CAD, NZD/USD, EUR/GBP, and more

 

Platinum Account

  • Hedging
  • Amount of FX leverage – 1:100
  • Dedicated account manager
  • Customized investment news
  • Free VPS
  • Fifth decimal
  • Swap discount (up to 50%)
  • Available currencies: EUR/USD, GBP/USD USD/JPY, AUD/USD, USD/CHF, USD/CAD, NZD/USD, EUR/GBP, and more

 

Overall Rating

4.7/5

Rated #– of 
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

LFSA

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

45+

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Primefin Demo Account

Primefin offers traders the option of opening a Demo Account which can be utilized in several ways, including, but not limited to the following:

  • A practice account for beginner traders who wish to improve their trading skills and experience in a risk-free environment using virtual funds.
  • Traders who are evaluating and comparing brokers would like to explore Primefin trading conditions in a risk-free environment.
  • Traders who wish to test their trading strategies in a mimicked live trading environment without risking their capital.

Primefin demo account sign-up is fully digitalized and hassle-free. It can be done within a few minutes and as soon as the trader is registered, demo trading can commence once the trader has downloaded and installed their trading platform of choice, on their web browser.

 

Islamic Account

The purpose of an Islamic Account is that it caters specifically to Muslim traders who follow Sharia law. The law prevents its followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitive.

Overnight fees are charged should traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should they hold positions open for longer.

Primefin does not offer an Islamic Account to Muslim traders who follow Sharia law.

It is for this reason that Muslim traders, who decide to make use of Primefin to facilitate their trades, must ensure that all their positions are closed by the time the trading day ends, freeing them from potentially having to pay overnight fees.

Brokers who do not offer this option are often at a disadvantage as brokers are constantly competing for new clients, and this feature is becoming increasingly more popular.

 

Pros and Cons

✔️PROS ❌CONS
Demo account offered No Islamic account option
High Leverage ratio provided US clients are not accepted
No commission on trades
Popular platform supported
Regulated
Segregation of funds

 

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You might also like: Primefin Demo Account

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You might also like: Primefin Sign up Bonus

 

Primefinat a Glance

Broker’s Name Primefin
Headquartered Labuan, Malaysia
Year Founded 1996
Regulating Authorities Labuan Financial Services Authority
Countries not accepted for trade The US and several other countries
Islamic Account (Swap Free) No
Demo Account Yes
Institutional Accounts No
Managed Accounts No
Maximum Leverage 1:500
Minimum Deposit $250
Deposit Options
  • Skrill
  • Neteller
  • SafeCharge
  • MIR Limited
  • Wirecard
  • DECTA
  • SSL
  • Orange pay
  • Payvision
  • Trustly
  • PaySafe
  • VISA
  • Emerchant pay
  • VPay
  • Mastercard
  • Maestro
Withdrawal Options
  • Skrill
  • Neteller
  • SafeCharge
  • MIR Limited
  • Wirecard
  • DECTA
  • SSL
  • Orange pay
  • Payvision
  • Trustly
  • Paysafe
  • VISA
  • Emerchant pay
  • VPay
  • Mastercard
  • Maestro
Platform Types MetaTrader 4
OS Compatibility Web browsers, Windows, Linux, MacOS, Android, iOS
Tradable Assets
  • Forex
  • Stocks
  • Cryptocurrencies
  • Commodities
  • Indices
  • Metals
Languages supported on Website English, Spanish, Portuguese and Russian
Customer Support Languages English, Spanish, Portuguese and Russian
Customer Service Hours 24/5

 

FAQ

 

Trading Environment

 

How many instruments can I trade with Primefin?

You can trade the following financial instruments:

  • Forex
  • Stocks
  • Cryptocurrencies
  • Commodities
  • Indices
  • Metals

 

Which platforms are supported by Primefin?

MetaTrader 4.

 

Does Primefin offer leverage?

Yes, Primefin has a maximum of 1:500.

 

What spreads can I expect with Primefin?

You can expect variables depending on what account you choose and the instrument.

 

Does Primefin charge commission?

There are no commission charges on trades. Traders must verify this information with the broker as it is not stated on the website.

 

Are there additional charges on the Islamic account?

Primefin does not offer an Islamic account.

 

Is Primefin regulated?

Yes. Primefin is regulated by the Labuan Financial Services Authority.

 

Is Primefin a recommended forex trading broker for experts and beginners?

Yes. Primefin caters to both beginners and experts.

 

What is the overall rating out of 10 for Primefin?

5/10.

 

Accounts

 

What is the difference between a demo and a live trading account?

A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring both the broker’s offer and the trading platform.

A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.

 

Does Primefin offer a demo account?

Yes, Primefin does offer a demo account.

 

For how long is the demo account valid?

The demo account is valid for seven days.

 

Does Primefin offer the option of an Islamic Account?

No, Primefin does not offer their Muslim clients who follow the Sharia Law an Islamic Account.

 

Which live trading accounts does Primefin offer?

Silver Account

  • Hedging
  • Amount of FX leverage – 1:100
  • Dedicated account manager
  • Customized investment news
  • Available currencies: EUR/USD, GBP/USD USD/JPY, AUD/USD, USD/CHF, USD/CAD, NZD/USD, EUR/GBP, and more

 

Gold Account

  • Hedging
  • Amount of FX leverage – 1:100
  • Dedicated account manager
  • Customized investment news
  • Free VPS
  • Fifth decimal
  • Swap discount (up to 25%)
  • Available currencies: EUR/USD, GBP/USD USD/JPY, AUD/USD, USD/CHF, USD/CAD, NZD/USD, EUR/GBP, and more

 

Platinum Account

  • Hedging
  • Amount of FX leverage – 1:100
  • Dedicated account manager
  • Customized investment news
  • Free VPS
  • Fifth decimal
  • Swap discount (up to 50%)
  • Available currencies: EUR/USD, GBP/USD USD/JPY, AUD/USD, USD/CHF, USD/CAD, NZD/USD, EUR/GBP, and more

 

What are the available deposit currencies for a live trading account?

  • USD
  • GBP
  • EUR

 

Deposits and Withdrawals

 

What is the minimum deposit for Primefin?

Primefin has a minimum deposit of $250.

 

How do I make a deposit and withdrawal with Primefin?

  • Skrill
  • Neteller
  • SafeCharge
  • MIR Limited
  • Wirecard
  • DECTA
  • SSL
  • Orange pay
  • Payvision
  • Trustly
  • Paysafe
  • VISA
  • Emerchant pay
  • VPay
  • Mastercard
  • Maestro

 

Does Primefin charge withdrawal fees?

No, Primefin does not charge withdrawal fees, but other financial institutions’ costs could apply.

 

How long does it take to make a withdrawal?

This will depend on the payment method used. It can take between 30 minutes up to a few working days.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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